Schapiro discusses Knight Capital, fiduciary standard

Mary Schapiro, chairman of the Securities and Exchange Commission, said that although the agency looks into trade rules after incidents such as the Knight Capital Group glitch Aug. 1, it is not considering changing the rules at this time. "We will always be revisiting rules after particular experiences," Schapiro said. "But I wouldn't say there is anything concrete planned" after the Knight trading issue. Schapiro also expressed confidence that progress would be made on establishing a uniform fiduciary standard of care during 2013.